POLY-STYL: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
POLY-STYL
Largest movements
- Receivables within one year -€242,840
down €242,840 (-45.8%), from €530,437 to €287,597
of which Trade receivables: -€255,117
- Cash +€112,212
up €112,212 (+714.1%), from €15,714 to €127,926
mainly Receivables within one year (+€242,840) and Depreciation (+€69,944)
- Tangible fixed assets +€42,346
up €42,346 (+21.5%), from €197,067 to €239,413
of which Plant, machinery and equipment: +€86,339
- Stocks and contracts -€22,973
down €22,973 (-11.7%), from €196,528 to €173,556
- Profit (loss) carried forward -€122,404
down €122,404, from €13,850 to -€108,554
- Trade debts +€69,824
up €69,824 (+31.3%), from €222,979 to €292,803
- Advances received -€40,573
down €40,573 (-16.0%), from €254,338 to €213,765
- Short-term financial debts -€39,433
no longer reported in 2025 (was €39,433)
- Debts after one year +€28,587
up €28,587 (+22.3%), from €128,347 to €156,933
- Gross operating margin -€220,888
down €220,888 (-27.2%), from €813,225 to €592,337
- Staff costs -€70,543
down €70,543 (-10.4%), from €676,041 to €605,498
- Depreciation +€12,028
up €12,028 (+20.8%), from €57,916 to €69,944
- Other operating charges -€11,428
down €11,428 (-45.3%), from €25,233 to €13,804
- Taxes -€9,945
down €9,945 (-86.6%), from €11,480 to €1,536
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €961,850 | €850,679 | -€111,171 | -11.6% |
| Fixed assets | 21/28 | €209,989 | €246,901 | +€36,912 | +17.6% |
| Intangible fixed assets | 21 | €12,922 | €7,488 | -€5,434 | -42.1% |
| Tangible fixed assets | 22/27 | €197,067 | €239,413 | +€42,346 | +21.5% |
| Plant, machinery and equipment | 23 | €73,856 | €160,196 | +€86,339 | +116.9% |
| Furniture and vehicles | 24 | €123,211 | €79,217 | -€43,994 | -35.7% |
| Current assets | 29/58 | €751,861 | €603,778 | -€148,083 | -19.7% |
| Stocks and contracts in progress | 3 | €196,528 | €173,556 | -€22,973 | -11.7% |
| Stocks | 30/36 | €196,528 | €173,556 | -€22,973 | -11.7% |
| Amounts receivable within one year | 40/41 | €530,437 | €287,597 | -€242,840 | -45.8% |
| Trade receivables | 40 | €520,672 | €265,555 | -€255,117 | -49.0% |
| Other amounts receivable | 41 | €9,766 | €22,042 | +€12,277 | +125.7% |
| Cash at bank and in hand | 54/58 | €15,714 | €127,926 | +€112,212 | +714.1% |
| Deferred charges and accrued income | 490/1 | €9,182 | €14,699 | +€5,518 | +60.1% |
| Total equity and liabilities | 10/49 | €961,850 | €850,679 | -€111,171 | -11.6% |
| Equity | 10/15 | €126,425 | €4,021 | -€122,404 | -96.8% |
| Contributions | 10/11 | €20,333 | €20,333 | = | 0.0% |
| Reserves | 13 | €92,242 | €92,242 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,051 | €2,051 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,051 | €2,051 | = | 0.0% |
| Distributable reserves | 133 | €90,191 | €90,191 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,850 | -€108,554 | -€122,404 | |
| Amounts payable | 17/49 | €835,425 | €846,658 | +€11,233 | +1.3% |
| Amounts payable after more than one year | 17 | €128,347 | €156,933 | +€28,587 | +22.3% |
| Financial debts | 170/4 | €128,347 | €156,933 | +€28,587 | +22.3% |
| Amounts payable within one year | 42/48 | €707,049 | €689,725 | -€17,324 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €95,408 | €95,734 | +€325 | +0.3% |
| Financial debts | 43 | €39,433 | - | -€39,433 | |
| Credit institutions | 430/8 | €39,433 | - | -€39,433 | |
| Trade debts | 44 | €222,979 | €292,803 | +€69,824 | +31.3% |
| Suppliers | 440/4 | €222,979 | €292,803 | +€69,824 | +31.3% |
| Advances received on contracts in progress | 46 | €254,338 | €213,765 | -€40,573 | -16.0% |
| Taxes, remuneration and social security | 45 | €69,805 | €65,262 | -€4,543 | -6.5% |
| Taxes | 450/3 | - | €1,536 | +€1,536 | |
| Remuneration and social security | 454/9 | €69,805 | €63,726 | -€6,079 | -8.7% |
| Other amounts payable | 47/48 | €25,085 | €22,161 | -€2,924 | -11.7% |
| Accrued charges and deferred income | 492/3 | €30 | - | -€30 | |
| Remuneration, social security and pensions | 62 | €676,041 | €605,498 | -€70,543 | -10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,916 | €69,944 | +€12,028 | +20.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,148 | - | -€9,148 | |
| Other operating charges | 640/8 | €25,233 | €13,804 | -€11,428 | -45.3% |
| Gross operating margin | 9900 | €813,225 | €592,337 | -€220,888 | -27.2% |
| Operating profit (loss) | 9901 | €44,887 | -€96,910 | -€141,797 | |
| Financial income | 75/76B | €1,473 | €3 | -€1,470 | -99.8% |
| Recurring financial income | 75 | €1,473 | €3 | -€1,470 | -99.8% |
| Financial charges | 65/66B | €17,181 | €23,961 | +€6,780 | +39.5% |
| Recurring financial charges | 65 | €17,181 | €23,961 | +€6,780 | +39.5% |
| Profit (loss) for the period before taxes | 9903 | €29,179 | -€120,868 | -€150,047 | |
| Income taxes | 67/77 | €11,480 | €1,536 | -€9,945 | -86.6% |
| Profit (loss) for the period | 9904 | €17,699 | -€122,404 | -€140,103 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,699 | -€122,404 | -€140,103 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.